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JUL
04
2013

SBN-465: Electricity Rate Reduction

An Act Reducing Electricity Rates By Allocating The Net National Government Share From The Malampaya Natural Gas Project For The Payment Of The Stranded Contract Costs And Stranded Debts Of The National Power Corporation

  • The net national government share from the Malampaya Project shall be remitted to a Special Trust Fund to be administered by the Power Sector Assets and Liabilities Management Corporation (PSALM) to pay the National Power Corporation’s (NPC) Stranded Contract Costs (SCC) and Stranded Debts (SD) portion of the Universal Charge (UC).
  • When the SCC and SD are fully paid, the collection shall accrue to the General Fund.

 

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